Business Contents Archive

How do you find a business partner.

Ok so i am doing an engineering degree and I have a few product ideas I would like to design/manufacture/sell. I am very good with the mechanical side of things but dont know anything about software. How do you go around finding a business partner that has what you dont have to make the dream come true ? I say business partner because i dont want just any random company making me software, i want whoever is making it to be incentivized to make good software instead of bare minimum requirements. ​ I just have no idea where to start.

What tips would you give for a launch party ?

I am thinking about organising a launch party for my clothing business, I have a vision but insight from other people would really help :)

Sharing P&L with Employees

I run a business that does about $3m ARR. I have 4 managers and myself. I am considering opening up our P&L to them on a monthly basis so that they can have insight into the financials of the business. My goal is to motivate them and let them feel more in tune with everything. But I am a little hesitant and need to weigh the pros and cons, as well as how I should disclose this information.. So far I am considering 1 of the following options: 1. Complete oversight of the P&L 2. Cost of Goods Sold completely transparent. And then all Overhead/Administrative accounts lumped into one number with Net Profit being showing 3. Cost of Goods Sold completely transparent and show nothing else Wondering if anyone has experience and a good method to open up the books to employees?

Best Company for Professional Liability Insurance (Errors and Omissions Insurance) and Bank/Credit Union for Business Banking?

Hello, I'm currently looking at insurance companies for professional liability insurance and banks/credit unions for a business checking/savings account. If anybody has any recommendations for either, i'd love to hear. ​ I am the sole member/owner of a single member LLC where I do software patent consulting and software development. I work remotely from my home. For banking I am looking for an account with zero maintenance/action fees, no min amount, good online/mobile support, good customer service, fast transactions and transfers, and high APY. I'm currently considering BECU since, being a credit union, it has no fees. The only issue with BECU I see is that the APY is really low. .1 for checking, .5 for savings. ​ thanks for the help!

Sole proprietor question

I have a small construction company me and my dad started recently, only make 1300 each a week before taxes obviously but I’m just wondering is there any way I can pay self through a pay roll app like ADP or something maybe make a separate bank account and transfer money every 2 weeks on payroll or would that not be possible I would barley make profit if I have to pay SE plus state and federal. Also another question if your a sole proprietor and you take all the money from your business account just leave a small sum (100$)will I still owe the 15.3% for SE at the end of the year if that 40-50k I made is in my personal account? I’m very new to this I probably sound dumb but I’m just curious and wanna do it legitimately, thanks!!!

Best High Interest Business Checking account?

In this high interest period it’s past time I move my money to a bank with higher yield checking. Any recommendations on the best high yield business checking account? Few things to note - Average monthly checking account balance: $60k There’s tens of thousands of dollars that go into and out of the account monthly Don’t need a debit/credit card. Prefer a bank with checks Prefer a bank that has access to link multiple business accounts Prefer but doesn’t need to be a physician bank. For what it’s worth, my businesses are in CO/TX Appreciate any thoughts/rec’s in advance

Insurance and Business License for Small Business/Side Hustle

I am currently in the process of launching a small car detailing business. Initially, my plan is to operate it as a side hustle this summer, with the potential for expansion next year if things go well. However, I find myself uncertain about the requirements for insurance and a business license. While I understand the importance of being held liable for any potential issues as an adult, I also question the necessity of these aspects if it's just me running the business. Additionally, I'm concerned about the cost of obtaining a business license, especially if I don't plan on doing this in the long term. I've received conflicting advice from various sources, leaving me unsure of the best course of action. Should I prioritize obtaining insurance and a business license right from the start, or can I wait until I upscale the business and have multiple people working with me?

Interested in an interview?

I'm doing an essay for my english class on discourse communities and I chose small business as my topic. Would anyone like to answer a few question on you experience (so far) owning and operating your business? I can message you the questions and don't have to give me anything personal or tell me what your business is. I hope to hear from you!

Operations/process improvement for business

A long-time small/medium business wants me to use my skills to improve current operations and processes to allow them to maximize sales and capacity and organically grow their business. They got a referral from an old boss who loves me. They don’t seem to have a lot of cash on hand until it’s scaled. I fee more than capable to help them but am unsure on pricing or deal arrangements as I’m kind of new to this. What kind of deal arrangements are on the table? I’m thinking hourly vs. fixed but recognize there will probably be a budget ceiling, so I’m exploring alternatives such as written referrals, sweat equity in some form, or other. Also, any pointers on where or how to learn more on how this arrangement can work? Thank you.

Used Book Donations- Taxable?

Hi! So my business partner and I are starting a used book shop. We have an LLC and are NOT a non profit. What I’m wondering is, when people give us donations of books and do not want compensation in return, what exactly do we need to do to report that? Or do we even have to? Any advice from someone in a similar position would be appreciated! Thanks!

How do u begin your coffee truck business?

I was a barista in WA for over 3 years and loved working in drive through stands. After 2 years I felt I really wanted to have one of my own. I live in the Midwest now and the coffee options are very limited so I see a need I can fill. I don’t have business back ground and want to start a coffee truck. What type of person do I look into to help me? I have 0 clue on how to start this dream despite the YouTube videos and articles I’ve consumed.

How to find the right business advisor (trying to start sole proprietorship)

As the title says. I'm trying to start a sole proprietorship giving coaching in a specific niche to small businesses. I'm experienced enough in giving this coaching but I feel like I need advice in how best to market (new business promos, email copy, website content), develop an effective sales pipeline, package my services etc. I don't have a lot of money to spend on business advisors but am of course realistic about how much a session could cost. For this reason, I'm wanting to make sure I find the right person, but I'm having trouble. So many business consultants are focussed on larger businesses or other areas of expertise; I really just need someone to help me do the basics really well. Any advice on finding the right type of advisor?

Email Hosting that Interfaces with Outlook

What's a good email hosting service that works seamlessly with Outlook client? Been using NameCheap for a few years but now receiving a lot of rejections by recipient servers or sent to trash.

Charging business expenses on spouses credit card

I’ve just started a small business and had some confusion surrounding this topic. I’ve been making business purchases on my spouses credit card. Does this hurt me in any way relating to taxes? As long as I maintain documentation and receipts of my business purchases will I be okay? My business requires very small purchases so nothing unusual. Example: $250 for balloons, $50 for sandbags and tape. Do I need to now write her a check to protect myself? Or pay off the exact amount of my business purchases off her card from my business checking account?

How do I advertise my small business?

Hey! I'm starting a small art buisness this summer on insta and I wanted to know if anyone had tips on how to make contact and how to advertise it. I don't necessarily wanna pay for instagram publicity.